Eye Movements in Risky Choice

Neil Stewart, Frouke Hermens, William J. Matthews

Research output: Contribution to journalArticle

29 Citations (Scopus)
3 Downloads (Pure)

Abstract

We asked participants to make simple risky choices while we recorded their eye movements. We built a complete statistical model of the eye movements and found very little systematic variation in eye movements over the time course of a choice or across the different choices. The only exceptions were finding more (of the same) eye movements when choice options were similar, and an emerging gaze bias in which people looked more at the gamble they ultimately chose. These findings are inconsistent with prospect theory, the priority heuristic, or decision field theory. However, the eye movements made during a choice have a large relationship with the final choice, and this is mostly independent from the contribution of the actual attribute values in the choice options. That is, eye movements tell us not just about the processing of attribute values but also are independently associated with choice. The pattern is simple—people choose the gamble they look at more often, independently of the actual numbers they see—and this pattern is simpler than predicted by decision field theory, decision by sampling, and the parallel constraint satisfaction model. © 2015 The Authors. Journal of Behavioral Decision Making published by John Wiley & Sons Ltd.
Original languageEnglish
Pages (from-to)116-136
Number of pages21
JournalJournal of Behavioral Decision Making
Volume29
Issue number2-3
Early online date26 Jan 2015
DOIs
Publication statusPublished - Apr 2016

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field theory
decision theory
Eye Movements
Decision Theory
heuristics
decision making
trend
Statistical Models
Risky choice
Eye movements
Decision Making
time

Keywords

  • eye tracking
  • decision under risk

Cite this

Stewart, N., Hermens, F., & Matthews, W. J. (2016). Eye Movements in Risky Choice. Journal of Behavioral Decision Making, 29(2-3), 116-136. https://doi.org/10.1002/bdm.1854

Eye Movements in Risky Choice. / Stewart, Neil; Hermens, Frouke; Matthews, William J.

In: Journal of Behavioral Decision Making, Vol. 29, No. 2-3, 04.2016, p. 116-136.

Research output: Contribution to journalArticle

Stewart, N, Hermens, F & Matthews, WJ 2016, 'Eye Movements in Risky Choice' Journal of Behavioral Decision Making, vol. 29, no. 2-3, pp. 116-136. https://doi.org/10.1002/bdm.1854
Stewart, Neil ; Hermens, Frouke ; Matthews, William J. / Eye Movements in Risky Choice. In: Journal of Behavioral Decision Making. 2016 ; Vol. 29, No. 2-3. pp. 116-136.
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